Buying a Pet Supplies Plus franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 11 7(a) loans to buy an existing Pet Supplies Plus (classified mostly as Pet and Pet Supplies Retailers), totaling $17.2M. The median loan was $1,161,500, 80% higher than the $645,250 median for all SBA-financed acquisitions. 6 of these loans were approved in the last two fiscal years.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Pet Supplies Plus resale loans landed between $472,500 and $1,753,400.
- Lender experience exists. Bank of Oak Ridge alone has financed 3 Pet Supplies Plus resales.
- Guaranty. The SBA guaranteed 78% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Pet Supplies Plus resale
The median SBA 7(a) loan for a Pet Supplies Plus resale was $1,161,500 across 11 loans (FY2018 to FY2026). Bank of Oak Ridge, Oxford Bank and United Community Bank have financed the most Pet Supplies Plus resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Pet Supplies Plus acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $245K | $245,200 | |
| FY2019 | 1 | $30K | $30,000 | |
| FY2020 | 1 | $2M | $1,960,300 | |
| FY2021 | 1 | $4.2M | $4,219,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $916K | $916,000 | |
| FY2025 | 4 | $4.3M | $1,265,750 | |
| FY2026 | 2 | $5.6M | $2,775,000 |
How often do these acquisition loans fail?
Fewer than 20 Pet Supplies Plus acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Lenders financing Pet Supplies Plus resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bank of Oak Ridge | 3 | 27.3% | $3M | |
| 2 | Oxford Bank | 2 | 18.2% | $2M | |
| 3 | United Community Bank | 1 | 9.1% | $4.9M | |
| 4 | The Huntington National Bank | 1 | 9.1% | $4.2M | |
| 5 | TD Bank, National Association | 1 | 9.1% | $1.4M | |
| 6 | First Bank | 1 | 9.1% | $916K | |
| 7 | Midwest BankCentre | 1 | 9.1% | $695K | |
| 8 | First State Bank | 1 | 9.1% | $245K |
States where Pet Supplies Plus units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | North Carolina | 3 | 27.3% | $3M | |
| 2 | Michigan | 2 | 18.2% | $2M | |
| 3 | Florida | 2 | 18.2% | $1.6M | |
| 4 | Indiana | 1 | 9.1% | $4.9M | |
| 5 | California | 1 | 9.1% | $4.2M | |
| 6 | Virginia | 1 | 9.1% | $916K | |
| 7 | Missouri | 1 | 9.1% | $695K |
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Questions buyers ask
How much do buyers borrow to buy a Pet Supplies Plus franchise?
The median SBA 7(a) loan for a Pet Supplies Plus resale was $1,161,500 across 11 loans (FY2018 to FY2026). The middle half of loans ran from $472,500 to $1,753,400. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Pet Supplies Plus acquisitions?
Bank of Oak Ridge has made the most SBA acquisition loans for Pet Supplies Plus (3, 27% of the total). Oxford Bank, United Community Bank, The Huntington National Bank follow.
What interest rate and term do Pet Supplies Plus acquisition loans carry?
The average initial rate at approval was 8.16% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Pet Supplies Plus resale riskier than other SBA-financed acquisitions?
Too few Pet Supplies Plus acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Pet Supplies Plus units being bought with SBA loans?
North Carolina (3), Michigan (2), Florida (2), Indiana (1), California (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
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Related
- All Pet and Pet Supplies Retailers acquisitions
- North Carolina acquisitions
- Michigan acquisitions
- Florida acquisitions
- Bank of Oak Ridge
- United Community Bank
- The Huntington National Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Pet Supplies Plus" (franchise code S1293). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.